Facebook is banning cryptocurrency and ICO ads

Facebook has a new promotion process regarding to cryptocurrency, binary options and initial silver offerings. The process privately prohibits ads that foster those forms of products and services “that are frequently compared with dubious or false practices,” Facebook Product Management Director Rob Leathern wrote in a blog post today.

Cryptocurrencies like Bitcoin, Litecoin and Ethereum, and initial silver offerings have all strike a mainstream, that has soon resulted in a series of scams. While Facebook says it wants people “to continue to learn and learn” about those products and services, “there are many companies who are promotion binary options, ICOs and cryptocurrencies that are not now handling in good faith,” Leathern wrote.

Leathern recognizes that a process is utterly broad, though he says that’s intentional. The devise is to continue operative to improved detect false and dubious ads that associate to cryptocurrencies, ICOs and binary options.

Over time, Facebook says it will revisit a process and a coercion mechanisms as a signals improve. In a meantime, Facebook is enlivening people to news calm that violates this policy.

“This process is partial of an ongoing bid to urge a firmness and confidence of the ads, and to make it harder for scammers to distinction from a participation on Facebook,” Leathern wrote.